Role of CFOs

Objective

The objectives of the workstream is to examine the evolving role of CFOs (or equivalent senior finance roles) within the private or public sector, and identify and understand the ethics issues and challenges faced by professional accountants in business (PAIBs) serving in that role, as well as non-professional accountants (non-PAs) who serve in the same role.

 

Project Team

Jon Reid

Carla Vijian

 

Board Advisor

David Wray

 
IESBA September Meeting Highlights

The IESBA considered an update from the Role of CFOs Project Team on its activities since the September 2025 meeting, which reaffirmed the exploratory nature of the workstream to strengthen the evidence base to inform future recommendations to the IESBA.

The IESBA considered a presentation from Lynda Hawthorn-Kitamura, an experienced CFO and board chair across the private and public sectors, drawing on her professional experience and observations that:

  • The CFO role has expanded beyond traditional finance responsibilities to include technology, cybersecurity, sustainability, and enterprise risk;
  • The pace, complexity, and visibility of CFO decisions have intensified ethical pressures;
  • The tone at the top and professional judgment are critical; and
  • Ethical expectations are shared across public and private sectors, despite differences in accountability structures and stakeholder demands.

The IESBA considered the Project Team’s proposed global outreach plan for Q1-Q2 2026 for in-person and virtual roundtables, focus group meetings, and separate extended surveys for CFOs and other stakeholders. The Project Team noted that early academic research indicates a lack of recent empirical evidence on the evolving CFO role, underscoring the importance of stakeholder engagement to understand real-world ethical challenges faced by CFOs.

The IESBA emphasized the workstream's public interest imperative, the need to manage stakeholder expectations, and the need to maintain neutrality in communications. The IESBA also considered the Project Team’s recent engagement with the International Public Sector Accounting Standards Board (IPSASB), which provided insights specific to public-sector CFOs, including political influence, fragmented oversight arrangements and qualification pathways across jurisdictions, and with those CFOs often serving as informal ethical champions.

The IESBA will consider a further update from the Project Team at its March 2026 meeting.